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Tunisia monetary policy since the Arab Spring : the fall of the exchange rate anchor and rise of inflation targeting
El Hamiani Khatat, Mariam; End, Nicolas; Kolsi, Rym - 2020
has proven to be ineffective due to the composition of reserve money, structural liquidity deficit, and higher instability …
Persistent link: https://www.econbiz.de/10012301899
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Excess Liquidity and the Effectiveness of Monetary Policy : Evidence From Sub-Saharan Africa
Saxegaard, Magnus - 2006
This paper examines the pattern of excess liquidity in sub-Saharan Africa and its consequences for the effectiveness of … monetary policy. The paper argues that understanding the consequences of excess liquidity requires quantifying the extent to … which commercial bank holdings of excess liquidity exceed levels required for precautionary purposes. It proposes a …
Persistent link: https://www.econbiz.de/10014400369
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More gray, more volatile? : aging and (optimal) monetary policy
Baksa, Daniel; Munkacsi, Zsuzsa - 2019
The evidence on the inflation impact of aging is mixed, and there is no evidence regarding the volatility of inflation. Based on advanced economies' data and a DSGE-OLG model, we find that aging leads to downward pressure on inflation and higher inflation volatility. Our paper is also the first,...
Persistent link: https://www.econbiz.de/10012103744
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Monetary policy transmission in emerging markets and developing economies
Brandao Marques, Luis; Gelos, Gaston; Harjes, Thomas; … - 2020
Central banks in emerging and developing economies (EMDEs) have been modernizing their monetary policy frameworks, often moving toward inflation targeting (IT). However, questions regarding the strength of monetary policy transmission from interest rates to inflation and output have often...
Persistent link: https://www.econbiz.de/10012177610
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Monetary transmission in dollarized and non-dollarized economies : the cases of Chile, New Zealand, Peru and Uruguay
Acosta-Ormaechea, Santiago; Coble, David - 2011
Persistent link: https://www.econbiz.de/10009486293
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The monetary policy credibility channel and the amplification effects in a semi-structural model
Chansriniyom, Thitipat; Epstein, Natan; Nalban, Valeriu - 2020
The paper extends a standard semi-structural model to account for nonlinear and asymmetric effects of monetary policy credibility. In our setting, central bank credibility is proportional to the deviation of inflation expectations from the announced inflation target, with positive deviations...
Persistent link: https://www.econbiz.de/10012391944
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Monetary Transmission in Dollarized and Non-Dollarized Economies : The Cases of Chile, New Zealand, Peru and Uruguay
Acosta Ormaechea, Santiago - 2011
The paper conducts a comparative study of the monetary policy transmission in two economies that run a well-established IT regime, Chile and New Zealand, vis-à-vis two economies operating under relatively newer IT regimes, and which are exposed to a significant degree of dollarization, Peru and...
Persistent link: https://www.econbiz.de/10014412189
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A Simple Dge Model for Inflation Targeting
International Monetary Fund - 2007
The paper presents a DGE model designed as a core projection tool to support monetary policy in inflation-targeting (IT) emerging market economies. The paper uses a particularly simple and flexible general equilibrium model structure that can be amended to account for various phenomena that...
Persistent link: https://www.econbiz.de/10014400322
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The Monetary Transmission Mechanism in Egypt
Al-Mashat, Rania A. - 2007
This paper examines the monetary transmission mechanism in Egypt against the background of the central bank''s intention to shift to inflation targeting. It first describes the changing transmission channels over the last decade. Second, the channels are evaluated in a VAR model. The exchange...
Persistent link: https://www.econbiz.de/10014401246
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Inflation Targeting in Georgia : Are We there Yet?
Bakradze, Giorgi - 2007
This paper evaluates whether Georgia is ready to adopt inflation targeting (IT), a monetary policy framework that several emerging markets have adopted recently. After reviewing selected prerequisites for successfully implementing IT, the paper focuses on whether one specific precondition is in...
Persistent link: https://www.econbiz.de/10014400217